Homework answers / question archive / Tran Lee plans to set aside $2,500 a year, at the end of each of the next two years (year 1 and year 2), then $4,500 a year in the following two years (year 3 and year 4), and increase his annual savings to $8,500 in year 5 and year 6

Tran Lee plans to set aside $2,500 a year, at the end of each of the next two years (year 1 and year 2), then $4,500 a year in the following two years (year 3 and year 4), and increase his annual savings to $8,500 in year 5 and year 6. His savings will earn 6% per annum. What would be the accumulated future value of this savings amount if interest is paid annually? All the money will be withdrawn at the end of year 7.